Sunita Narain, Director General, Centre for Science and Environment; Prof. Gopal Sarangi, TERI School of Advanced Studies; Jasmeet Singh, Chief Executive Officer, Fair Climate Fund India; and Mrinal Ranjan, General Manager, NABARD, joined policymakers and climate experts as new frameworks, research and digital platforms for India’s carbon markets were introduced at Bharat Carbon Conclave
India’s carbon market ecosystem is entering a new phase of institutional development as policymakers, climate experts and financial institutions explore ways to connect climate action with global climate finance. At the Bharat Carbon Conclave 2026, stakeholders from across government, research institutions, farmer organisations and civil society gathered to discuss how carbon markets can support ecosystem restoration and sustainable development across the country.
The conclave saw the introduction of four initiatives designed to strengthen the governance architecture of India’s emerging carbon economy while improving transparency, community participation and institutional credibility across carbon markets.
Participants included Sunita Narain, Director General of the Centre for Science and Environment; Prof. Gopal Sarangi of TERI School of Advanced Studies; Jasmeet Singh, Chief Executive Officer of Fair Climate Fund India; and Mrinal Ranjan, General Manager at NABARD, along with representatives from government institutions, development organisations, financial institutions and civil society groups working on climate finance and ecosystem restoration.
One of the major announcements was the launch of the report titled India’s Carbon Market Landscape developed by the Centre for Grower Centric Eco Value Mechanisms. The study offers a comprehensive assessment of India’s carbon market ecosystem, mapping policy frameworks, technology systems, financial flows and grassroots participation shaping the sector.
The report identifies a potential domestic carbon market valued at nearly 49 billion dollars by 2030 and highlights India’s growing role in global climate finance. It also outlines key challenges related to governance standards, carbon credit integrity and equitable distribution of economic value across the carbon value chain.
The conclave also introduced the Principles for Responsible Carbon Markets, a governance framework designed to ensure carbon markets deliver credible climate outcomes while protecting the rights and economic interests of farmers and local communities.
The framework outlines safeguards around free prior and informed consent, transparent carbon accounting, responsible data governance and equitable benefit sharing mechanisms. It positions communities as central participants in the design and governance of carbon projects rather than passive beneficiaries.
Recognising the increasing role of rural landscapes in climate mitigation efforts, the conclave also launched Community Guidebooks on Carbon Markets. These guidebooks aim to help farmer collectives, grassroots organisations and local institutions understand how carbon credits are generated, verified and traded.
The publications translate complex carbon market concepts into accessible guidance that allows communities to evaluate participation opportunities, contractual arrangements and potential economic benefits from carbon projects.
A digital infrastructure initiative titled the Community Centric Carbon Platform was also introduced at the conclave. Developed by the Centre for Grower Centric Eco Value Mechanisms in collaboration with Primus Partners, the platform connects farmers, community institutions and project developers with carbon markets.
The platform integrates farm level climate data, measurement and verification systems, project aggregation tools and transparent credit tracking mechanisms designed to improve traceability and reduce transaction costs.
Sameer Jain, Chief Executive Officer of Primus Solutions, said the platform aims to connect credible community led climate projects with responsible sources of climate finance.
“While global climate finance continues to grow rapidly, a significant gap remains in ensuring that this capital reaches communities that are actively protecting forests, restoring ecosystems and managing natural resources. The Community Centric Carbon Platform has been designed to bridge this gap by creating a trusted ecosystem that connects credible community led climate initiatives with responsible climate finance,” he said.
Shri Praveen Pardeshi, Chief Executive Officer of the Maharashtra Institution for Transformation, highlighted the potential of carbon markets in supporting economic and environmental transitions.
“As India moves towards the vision of Viksit Bharat, states like Maharashtra have an opportunity to build growth pathways that are both economically strong and environmentally sustainable. Carbon markets can emerge as an important mechanism to support these transitions while enabling states and communities to unlock new climate linked economic opportunities,” he said.
Siddharth Dabhi said credible measurement and verification systems will be essential for building trust in the carbon market ecosystem while ensuring that communities benefit from climate finance opportunities.
“India’s carbon market opportunity lies not only in climate mitigation but also in empowering communities that are actively managing landscapes and natural resources. Creating credible systems for measurement, verification and transparent benefit sharing will be critical to ensuring that carbon markets deliver both environmental integrity and meaningful livelihood opportunities,” he said.
Pooja Lahiri also highlighted the importance of collaboration across policymakers, industry leaders, financial institutions and communities to build a credible carbon market ecosystem in India.
The initiatives introduced at the Bharat Carbon Conclave represent an effort to build an integrated framework for India’s carbon markets that combines research, governance standards, community capacity building and digital infrastructure. As India advances its domestic carbon market framework under the Carbon Credit Trading Scheme, such initiatives are expected to help connect farmers and rural communities with climate finance opportunities while strengthening the integrity of carbon markets.
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